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Ted Schlein’s Ballistic Ventures Secures $100M for Innovative New Fund Launch
Ballistic Ventures, a venture capital firm focused on cybersecurity startups, plans to raise $100 million for its new fund, as indicated by a recent SEC filing. Founded in late 2021 by Ted Schlein, the firm has quickly become influential in the cybersecurity sector, having closed its second fund at $360 million last year. Ballistic emphasizes a hands-on approach, assisting portfolio companies with strategic guidance, hiring, and customer acquisition. The firm has invested in 59 startups, including GetReal Lab, and has recorded six successful exits. The cybersecurity funding market is experiencing significant growth, projected to reach $11.6 billion in 2024.
GlobalX Airlines, Linked to Trump’s Deportations, Faces Major Cyber Hack: Latest Report
GlobalX, an airline previously used for deportations under the Trump administration, has suffered a cyberattack that has raised data security concerns in the airline industry. The breach, first reported by 404 Media, was marked by a defacement message on the airline’s website and stolen data shared by hackers claiming affiliation with the collective Anonymous. They criticized the airline for ignoring judicial orders related to wrongful deportations. GlobalX has not yet commented on the situation, which could impact operations and highlight vulnerabilities in airline cybersecurity. The incident underscores the importance of data protection and regulatory compliance in the industry.
From $6M Bet to 200x Return: The Incredible Success Story of Early Wiz Investor
Google’s parent company, Alphabet, has made a significant move in the cybersecurity industry by acquiring Wiz for $32 billion in cash, promising substantial returns for investors. Sequoia Capital is set to gain around $3 billion, while Cyberstarts, which invested $6.4 million in Wiz’s seed round, could see returns of approximately $1.42 billion, marking a remarkable 222x return. Cyberstarts has also participated in later funding rounds, yielding a modest 3.2x return on additional investments. Index Ventures, owning a 12% stake in Wiz, anticipates over $3.8 billion in returns. This acquisition highlights the lucrative opportunities within cybersecurity venture capital.
Unlocking Multicloud Potential: Why Google’s $32B Wiz Acquisition is a Game Changer
Google has announced its acquisition of security startup Wiz for $32 billion, which will continue to operate as a multicloud service, ensuring compatibility with various cloud platforms. The deal aims to bolster customer retention, as Wiz has a strong customer base with an annual revenue of $700 million projected to reach $1 billion. However, the acquisition faces potential antitrust scrutiny, especially given Google’s current 12% market share in cloud services, trailing behind AWS and Azure. Google Cloud CEO Thomas Kurian believes the multicloud strategy will meet customer demands, while AI may further influence future cloud dynamics and security needs.
Google Patches Two Critical Android Zero-Day Vulnerabilities Targeted by Hackers
On Monday, Google announced a critical Android update to address two zero-day vulnerabilities, CVE-2024-53197 and CVE-2024-53150, which hackers have potentially exploited. CVE-2024-53197 was discovered by Amnesty International and Google’s Benoît Sevens, revealing its use against activists, including a Serbian student targeted by local authorities using Cellebrite’s technology. The second vulnerability, CVE-2024-53150, is located in the Android kernel but lacks detailed information. Google emphasized the need for prompt updates from manufacturers to maintain device security and will release source code patches within 48 hours. Timely updates are vital for protecting against cyber threats.
Exploring the Vibrant Community Behind Elon Musk’s DOGE Universe
Elon Musk has established a vast network of companies that serves as an incubator for engineering and tech talent, intersecting with the U.S. federal government through the Department of Government Efficiency (DOGE). This collaboration highlights Musk’s influence in the tech industry, with a TechCrunch investigation revealing key individuals linked to him within DOGE. The team includes Musk as the lead, along with experienced insiders and engineers dedicated to improving government efficiency. The investigation utilized public records and interviews, uncovering insights like an xAI-powered chatbot related to DOGE. The evolving team aims to enhance governmental operations while attracting top talent.